Pay As You Go Car Finance
Pay as You Go Car Finance UK

What is Pay as you go Car Finance?

Pay-as-you-go (PAYG) car finance is a great way to manage your monthly payments on a car. PAYG car finance, also known as black box car finance, works around a traditional Hire Purchase agreement, which requires an initial deposit and a set schedule of recurring monthly payments.

What makes PAYG different from an HP agreement is the inclusion of a black box. Having a black box fitted on your car is similar to those installed by insurance companies. However, rather than monitoring a driver's behaviour - it acts as a hi-tech payment reminder.

With pay-as-you-go car finance, the vehicle remains the lender's property, and ownership only transfers once the final payment is complete.

Representative Example

This represents an average of the deals that our customers receive on other vehicles

Cash Price £19,121.93
Deposit £1,266.23
Term 48 months
Payment £323.72
Amount of credit £17,855.70
Fixed Interest per annum 6.46%
Representative APR 11.36%
Total Charge for credit £6,194.43
Final Payment £8,511.57
Option to purchase fee £399.00
Total Amount Payable (Incl. Deposit, charge for credit, final payment & purchase fee) £25,715.36

We are a credit broker and a lender. We can introduce you to a limited number of lenders and their finance products. We will provide details of products available, but no advice or recommendation will be made. You must decide whether the finance product is right for you. We do not charge you a fee for our services. Lenders will pay commission to us (either a fixed fee or a fixed percentage of the amount you borrow) for introducing you to them, this may be calculated in reference to a variable factor such as (but not limited to) the vehicle age, your credit score and the amount you are borrowing. Different lenders may pay different commissions for such introductions.